Arup sells head office for £98.5m
Consulting engineer Arup has sold its London head office for £40m more than it paid for it just eight years ago.
Arup has agreed a deal to sell its London head office building at 13-17 Fitzroy Street to Workspace Group for £98.5m. Arup bought the eight-storey building for £60m in July 2009 from Derwent.
The property is fully let to Arup on a lease expiring September 2022 at an annual rent of £4.9m (£53 per sq ft), rising to £6.0m (£65 per sq ft) in March 2021.
Arup is relocating from this building and the lease provides for its early exit with effect from September 2020 with a rolling nine-month break option.
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This article was published on 24 Feb 2017 (last updated on 24 Feb 2017).